Raymond James Raises Braze (NASDAQ:BRZE) Price Target to $48.00

Braze (NASDAQ:BRZE) had its price target increased by equities researchers at Raymond James from $45.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 27.97% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the stock a “buy” rating in a report on Friday. DA Davidson reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Wednesday. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Macquarie boosted their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Stock Up 2.2 %

Braze stock opened at $37.51 on Friday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $48.33. The business has a 50 day moving average price of $39.66 and a two-hundred day moving average price of $38.01.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. On average, analysts expect that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares of the company’s stock, valued at $6,441,804.20. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the transaction, the general counsel now directly owns 182,109 shares of the company’s stock, valued at $7,288,002.18. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock worth $3,841,921 in the last three months. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. Charles Schwab Investment Management Inc. grew its stake in Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after purchasing an additional 57,713 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Braze in the 3rd quarter valued at about $673,000. Proficio Capital Partners LLC bought a new position in Braze during the fourth quarter worth about $498,000. Holocene Advisors LP increased its position in Braze by 52.7% during the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after buying an additional 29,123 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.